Private sector banker, ICICI Bank revised the wholesale fixed deposit interest rates for both general category and senior citizens with effect from November 23, 2022. from 2 crores 50 million. Rates range from 3.75% to 6.80% for both seniors and the general public. ICICI Bank has also revised the rates on FD 5 crores and above with facility of premature withdrawal. The minimum tenure is 7 days while it can be maximum 10 years.
According to the bank’s website, with effect from November 23, the interest rate for both general category and senior citizens is the highest at 6.80%. FD among from 2 crores 5 crores for tenure ranging from 15 months to 3 years. The rate is 6.50% for a tenure of 3 years 1 day to 10 years. The bank also offers a rate of 6.75% on tenures ranging from 1 year to less than 15 months.
The bank offers a rate of 6.25% for a tenure of 271 days to less than 1 year, while the rate is fixed at 6% for a tenure of 185 days to 270 days.
An interest rate of 5.75% is offered for tenures ranging from 91 days to 184 days. An interest rate of 5.25% is offered on tenure of 61 days to 90 days, while the rate is 5% for tenure of 46 days to 60 days and 4.75% on tenure of 30 days to 45 days.
On short duration of tenure from 7 days to 29 days, ICICI Bank is offering a rate of 3.75% for both the categories.
to FD 5 crore and above, the bank is offering interest rates ranging from 3.75% to a maximum of 7.15% with effect from November 23. Premature withdrawal facility is available in these FDs.
The bank has kept the FD rates on deposits below 2 crore unchanged. It offers rates ranging from 3% to 6.60% on these FDs to the general public, while senior citizens enjoy higher rates ranging from 3.50% to 7.10%. 5 year tax saving FD scheme is also applicable on the deposit amount below 2 crores. The maximum tax deduction a customer can avail is 1.5 lakh from taxable income through ICICI Bank FD.
Notably, ICICI Bank also has a Golden Years FD interest rates scheme, which has been revised with effect from November 16, 2022. Resident senior citizen customers here will get an additional interest rate on FDs of 0.10% for a limited period of time in addition to the existing one. Additional rate of 0.50% per annum. The eligible period for this scheme is 5 years 1 day to 10 years, while the deposit amount should be less than 2 crores. The scheme is scheduled to expire on April 7, 2023.
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